Trump Is Having Difficulty Getting a Lawyer to Accept the Nomination for SEC Chair: Here’s Why

 

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Trump Is Having Difficulty Getting a Lawyer to Accept the Nomination for SEC Chair: Here’s Why

By Pam Martens and Russ Martens: November 26, 2024 ~

The former mayor of New York City, Rudy Giuliani, has learned the hard way the cost of loyalty to Donald Trump and his prevarications. Giuliani has lost his New York law license; was disbarred in Washington, D.C.; has been ordered by a court to pay two defamed Georgia election workers, Ruby Freeman and her daughter, Shaye Moss, $148 million in damages after they became the victims of harassment and death threats after he and Trump spread voter fraud claims about them. This month, Giuliani pleaded for donations to his fundraising page, saying he can’t afford to buy food.

Trump’s former personal attorney and “fixer,” Michael Cohen, was disbarred in New York and served time in prison for Trump-related crimes. And multiple other lawyers have seen their law licenses suspended for getting too close to Trump.

Trump’s past history of separating lawyers from their ability to earn a living from a law license comes to mind as the days roll by without an announcement of Trump’s pick to Chair the Securities and Exchange Commission (SEC). The currently sitting SEC Chair, Gary Gensler, wants zero to do with Trump and has announced he will step down the same day that Trump takes office on January 20. There was also the announcement that Dan Gallagher, the Chief Legal Officer at online trading platform, Robinhood, doesn’t want the job.

Adding to the intrigue, the Wall Street Journal has been strangely quiet on potential nominees that Trump is considering for the post.

A big problem for Trump in finding someone with a law license willing to serve as SEC Chair is that Trump has yet to file the required paperwork indicating how he plans to deal with his conflicts of interests.

Trump is the majority owner of Trump Media, a social media platform that trades on the Nasdaq under a stock symbol representing Trump’s initials – DJT. A publicly-traded stock falls under the supervision of the SEC and the price pattern of DJT suggests bouts of price manipulation.

In addition to that flaming conflict, CNBC reported in September that Trump and his family were launching a crypto firm called World Liberty Financial, writing as follows:

“A copy of an early internal report, known as a white paper and obtained by CoinDesk, listed Barron [Trump] as ‘Chief DeFi Visionary,’ Eric and Donald Jr. as ‘Web3 Ambassadors,’ and Trump Sr. as ‘Chief Crypto Advocate.’

“But while the Trumps will receive compensation from the project, the platform itself is ‘not owned, managed, operated or sold’ by members of the Trump family.

“[Steve] Witkoff, a real estate investor, and Eric Trump, executive vice president of the Trump Organization, are the two people calling the shots at World Liberty Financial, according to a person familiar with the project. Both are new to the crypto industry.”

Much of the crypto world comes under the supervision of the SEC.

For more background on what’s behind Trump’s recent embrace of crypto, see our report: Donald Trump Gives a Speech on Not Letting China Win the Crypto Race – Not Realizing China Banned Crypto Mining and Transactions Four Years Ago.

It will be fascinating to see who is willing to put their law license on the line to serve as Trump’s SEC Chair.

WALL STREET ON PARADE

CRYPTO SCAMMER CARPETBAGGING JOHN DEATON has LIED about SENATOR WARREN'S record....

SCRUTINIZE THE LIES SUPPORTING THE CRYPTO SCAMMER! 

JOHN DEATON IS JUST ANOTHER MAGA LIAR!

CRYPTO SCAMMER JOHN DEATON VOTED 3 TIMES IN 20 YEARS, no connection to MASSACHUSETTS, just moved to CARPETBAG!

Remember when he blamed SENATOR ELIZABETH WARREN for the failure to replace the CAPE COD BRIDGES because he's too lazy or uninformed to gather FACTS? It was TRUMP who slashed funding for the ARMY CORPS OF ENGINEERS, owner of the 2 BRIDGES. And TRUMP instructed the MAGA MORONS to oppose the INFRASTRUCTURE BILL, most genuflected!

The funding was delayed due to TRUMP! 

CRYPTO SCAMMER CARPETBAGGING JOHN DEATON has LIED about SENATOR WARREN'S record, some of which may be blamed on that he is UNINFORMED & some may be blamed on his laziness, but the recent ad is beyond deliberately misleading.....

CRYPTO IS BANNED IN CHINA & OTHER NATIONS!

PRIVATE INSURANCE? JUST AS THE COMMONWEALTH IS ADDRESSING THE FOR PROFIT STEWARD DISASTER? THAT HAS TO BE THE DUMBEST CAMPAIGN ISSUE THESE CLOWNS CAN RAISE! 

#1 MEDICARE ADVANTAGE was promoted as a solution, but has become a SCAM, denying claims, overcharging, and bilking the system. 

Medicare Advantage

It’s Time to End the Medicare Advantage Scam

ANTI-SEMITISM BILL - TRY FACTS! 

The Controversy Surrounding the Antisemitism Bill, Explained

The Antisemitism Awareness Act: What to know

Rep. Matt Gaetz (R-FL) called it a "ridiculous hate speech bill" that could inadvertently lead the religious speech of Christians to be censored.

Rep. Marjorie Taylor Greene of Georgia said she opposed it because it “could convict Christians of antisemitism for believing the Gospel that says Jesus was handed over to Herod to be crucified by the Jews.” Notably, the proposed legislation is civil, so a criminal conviction is not possible.

However, the idea quickly spread in the far-right community, with Charlie Kirk, a Republican activist, asking rhetorically on social media, “Did the House of Representatives just make parts of the Bible illegal?” Conservative commentator Tucker Carlson responded, saying “yes” and “The New Testament.”Other hard-right opponents of the bill included Rep. Lauren Boebert of Colorado, Rep. Anna Paulina Luna of Florida, Rep. Chip Roy of Texas, Rep. Paul Gosar of Arizona and Rep. Andy Biggs of Arizona.

The bill text also drew sharp criticism from some Democrats, who argued it is too broad and infringes on free speech rights. Seventy Democrats voted against the bill in the House along with 21 Republicans.

Rep. Jerry Nadler of New York, a Jewish lawmaker who described himself as a “deeply committed Zionist,” urged his colleagues to vote against the “misguided” bill because it “threatens to chill constitutionally protected speech.”

“Speech that is critical of Israel – alone – does not constitute unlawful discrimination. By encompassing purely political speech about Israel into Title VI’s ambit, the bill sweeps too broadly.”

He opted to vote against it. He was joined by Democratic Rep. Jake Auchincloss of Massachusetts, who said in a statement that he didn’t support it because he believed it to be unconstitutional.

Schumer must pass the Antisemitism Awareness Act

THE LEGISLATION IS POORLY CRAFTED & IT MISREPRESENTS THAT THIS IS SYNONYMOUS WITH SUPPORT FOR ISRAEL. IT IS INTENDED TO SILENCE PROTESTS AGAINST THE GAZA GENOCIDE & COULD BE EMPLOYED TO TARGET CHRISTIANS. READ THE OPPOSITION IN THE HOUSE. WILL SUSSMAN IS A NAIVE TURD FABRICATING CONTROVERSY WHERE NONE EXISTS. 

TRAIL MARKERS — The PAC backing GOP Senate candidate John Deaton went up with a TV ad Wednesday morning, hours after Deaton secured the nomination. The 30-second spot , titled “Differences,” actually opens highlighting two similarities between Deaton and Democratic Sen. Elizabeth Warren: “Both oppose [former President Donald] Trump. Both are pro-choice on abortion,” the ad’s narrator says.

But it’s clear Warren plans to make her stance on abortion and access to reproductive care like IVF a point of contrast with her opponent as she seeks another term.

“American women have had just about enough of men who come in and talk out of both sides of their mouths about, oh yeah, they're big-deal Republicans, and they want that extremist base to support them. Oh, but if they're saying something that's unpopular on reproductive care, they'll just kind of meander on," Warren told Playbook when asked about the comparison. “We're not doing that."

****MUST READ FOR THE LIST OF BILLIONAIRES****** Billionaires for Trump and Vance

NOTE: CHINA HAS BANNED CRYPTO FOR NATIONAL SECURITY REASONS! 

Billionaire hedge fund manager Bill Ackman speaks at The New York Times DealBook Conference at Jazz at Lincoln Center on November 10, 2016 in New York City.

 (Photo by Bryan Bedder/Getty Images for The New York Times )

Billionaires for Trump and Vance

Here they are. They have names. They have billions. And they're the leading American oligarchs backing the ticket that wants to kick the working class and poor people in the face.

No matter who may be supporting them in public opinion polls, Donald Trump and JD Vance are not the saviors of the middle class, the working, class, or the poor. They are not the champions of Blacks, whites, Latinos, men, women or any other demographic group. Their policy proposals won’t even benefit better off but not rich Americans. They are the candidates of casino, real estate, fossil fuel, and tech billionaires. Many are affiliated with Trump 47 or one of the other pro-Trump Super PACs.

I am a union member and have been since I started working as a teenager in the 1960s and I support the Harris-Walz ticket. I think it is a moral transgression in this election to vote for any down ballot Republican candidate that appears on the same line as Trump and Vance. The Democrats must win the House and Senate and local elections to stop the billionaire financed anti-democracy MAGA movement.

Below, in alphabetical order, is a list and description of some of the Trump-Vance team’s key super-wealthy supporters. It is a billionaire’s club.

Hedge fund billionaire Bill Ackman is the chief executive and portfolio manager of Pershing Square Capital Management. Ackman demanded that Trump resign after the January 6 attack on the Capitol, but now endorses Trump. Ackman is a leading crusader against DEI policies and what he perceives of as a wave of antisemitism on college campuses. He played a leading role in forcing Harvard President Claudine Gray to resign, in getting New York City Mayor Eric Adams to use police to breakup protests at Columbia University against Israel’s action in Gaza and contributed to SuperPACs that defeated progressive candidates in Democratic Party primaries because they criticized Israel. Forbes estimates Ackman’s net worth at over $9 billion.

Casino magnates Miriam Adelson and her deceased husband, Sheldon Adelson, were Trump's biggest donors in 2020. They contributed $90 million to the pro-Trump SuperPAC Preserve America. Adelson is the wealthiest Israeli citizen and one of the fifty wealthiest people in the world. She pledged $100 million to Trump’s 2024 campaign in exchange for his promise that if he is elected President the United States would recognize Israeli sovereignty over the West Bank, torpedoing any possible of an independent Palestinian state.

Marc Lowell Andreessen is a Silicon Valley tech businessman, former software engineer, member of the Facebook Board of Directors, and worth $1.8 billion. In 2016 he endorsed Hillary Clinton for President because of Trump’s anti-immigrant stance, but he is now donating mega-bucks to SuperPACs supporting Trump, hoping to secure policies that favor his investments.

Scott Bessent is founder of the global investment firm Key Square Group with an investment portfolio of $8 billion. Previously Bessent was the Chief Investment Officer of Soros Fund Management, a much more liberal company. At some point, Bessent changed his stripes, and he is now a co-chair of Trump 47, a Republican Party fundraising group in Palm Beach, Florida. Bessent is considered a possible Secretary of the Treasury if Trump is elected.

Robert Thomas Bigelow owns Budget Suites of America and is founder of Bigelow Aerospace. He is a notorious conspiracy theorists providing financial support for investigating UFOs and paranormal phenomena including consciousness after death. Bigelow has originally a DeSantis supporter but switched to Trump when DeSantis dropped out of the race. Bigelow gave Trump a million dollars to help with his legal fees and promised to give $20 million to pro-Trump Super PACs. Bigelow’s net worth is $1.5 billion.

Robert H. Book is chairman of Book Capital Enterprises and Jet Support Services, and a Vice Chairman of Axxes Capital. His net worth is only half a billion dollars so he may not belong on this list. Book, a major philanthropist in support of Israel, was critical of Trump in 2017 for not forcibly condemning neo-Nazis marching in Charlottesville, Virginia. However, in 2020 he gave over a million dollars to the Trump Victory Committee.

Timothy Dunn is the CEO of the fossil fuel company CrownQuest Operating. Dunn contributed to the Trump 2020 campaign and in 2023 he gave $5 million towards the 2024 campaign. He's an active donor in rightwing Texas politics, giving approxinately $10 million to the conservative Defend Texas Liberty PAC. He co-founded a Christian school where he is on the board of trustees and teaches Sunday school. Dunn opposes abortion, same-sex marriage. and adoptions by same sex couples. He is worth an estimated 2.2 billion.

José Fanjul is a Cuban American a sugar magnate with investments in Domino Sugar and real estate who gave over $800,000 to the Trump 47 Committee and hosted a Trump fundraiser. Fanjul’s company received an estimated $65 million in federal agricultural subsidies that he uses political influence to protect. The family’s business interests are valued at over $8 billion.

Kenneth Griffin is a hedge fund manager who gave $10 million to the House Republican Super PAC and $5 million to the Senate Republican Super PAC. Griffin initially backed Nikki Haley for the 2024 Republican nomination and called Trump a “three-time loser,” but is now prepared to endorse Trump. Griffin is worth about $35 billion.

Harold Hamm, executive chair of Continental Resources, is an oil and gas magnate heavily invested in fracking who is worth $18.5 billion. Hamm is part of the Koch brothers rightwing donor network. He contributed $320,000 to the 2020 Trump campaign and organized a major Trump fundraiser with the fossil fuel industry.

Diane Marie Hendricks and her deceased husband were major supporters of Wisconsin Governor Scott Walker. Her net worth is over $20 billion. From 2014 to 2016, she gave millions of dollars to a Republican Super PAC created by the Koch Brothers and in 2020 Hendricks contributed $1.1 million to Trump’s presidential campaign. She spoke at the 2024 Republican Party National Convention and is also a financial supporter of Georgia representative Marjorie Taylor Greene. Hendricks’ investment in Trump paid off bigtime. She saved $36 million in income taxes from a provision in the 2017 Trump tax cut.

Benjamin Horowitz is a co-founder of the venture capital firm Andreessen Horowitz along with Marc Lowell Andreessen and is personally worth $3.5 billion. He pledged to give money to the 2024 Trump campaign.

Robert “Woody” Johnson is co-owner of the New York Jets football team and an heir to the Johnson & Johnson pharmaceutical company. He is worth an estimated $10 billion. Johnson was a co-financial chair of the Republican Party during Trump’s 2016 campaign and was appointed ambassador to the United Kingdom when Trump was elected. During the 2024 campaign, Johnson has already given over a million dollars to Trump Super PACs.

Doug Leone is a partner at and former head of Sequoia Capital. Forbes magazine estimates he is worth $8.4 billion. In 2021, Leone said Trump lost his support because of the January 6 attack on the Capitol, but he is now back on the Trump bandwagon. He gave $2 million to the Right for America Trump Super PAC and $1 million to the America PAC.

Joe Lonsdale is a technology entrepreneur and investor and co-founder of Palantir worth about half a billion dollars. He donates to Trump through the Super PAC America Pac.

Howard Lutnick is CEO of Cantor Fitzgerald and has a net worth of an estimated $1.5 billion. Lutnick has hosted New York metro area fundraisers for Trump in his home since 2019.

Omeed Malik, who formerly supported Ron DeSantis, changed track and pledged to raise over $3 million and donate at least $100,000 to the Trump campaign. Malik is president of 1789 Capital and CEO of Farvahar Partners. He has an estimated net worth of $6.15 billion.

Home Depot co-founder Bernie Marcus supported Trump for President in 2016 and 2020 and announced he would support Trump again even if he were convicted of crimes. He gave the Trump campaign $25 million in 2020. Marcus, who is worth almost $9 billion, originally supported DeSantis this round and then Haley, but he is now boosting Trump again. He said his donations to the 2024 Trump campaign would be “in line” with past contributions.

Vincent and Linda McMahon are professional wrestling promoters. The McMahons gave $5 million to the Donald J. Trump Foundation. Linda was appointed administrator of the federal Small Business Administration during the Trump administration and spoke at the 2024 Republican National Convention. The McMahon’s have a combined net worth of $3.2 billion.

Timothy Mellon is a descendant of the founder of the Mellon Bank and railroad interests. The bank, under different names, today manages about $50 trillion in assets and the current generation of the family is worth about $15 billion. Mellon is a major Trump supporter. In April 2020, he gave $10 million to Trump’s America First Action Super PAC, and he has pledged $75 million to elect Trump in 2024. He also contributed $25 million to the independent candidacy of Robert Kennedy. Mellon is the definition of rightwing weirdo. He posted online comparing climate scientists to ISIS, is a COVID anti-vaxxer, donated to build a Southern wall, and issued statements that led to him being accused of racism.

Robert and Rebeka Mercer (his daughter and fellow conservative activist) Pappa Mercer was an artificial intelligence proponent and co-chair of the Renaissance Technologies hedge fund. Mercer has a string of companies based in the Caribbean that he uses to avoid paying American income taxes. Among his rightwing activities, he contributed to the Brexit campaign for Great Britain to leave the European Union, works with Koch brother’s groups, financially supported Breitbart News, donated to the Heritage Foundation and the Cato Institute, labels civil rights acts as racist, and helped fund JD Vance’s Ohio Senate campaign. Daughter Rebekah is in charge of the Mercer Family Foundation. She home schooled her children, is on the Heritage Foundation Board of Trustee, was on the 2016 Trump transition team, and works closely with Steve Bannon who she introduced to Trump. Pappa Mercer is probably worth a little less than a billion dollars.

Elon Musk is going all in to elect Trump, providing money through his private pro-Trump Super PAC and free publicity on his social media site including an interview scheduled for posting on August 12. Musk reportedly pledged to contribute $45 million a month to his America PAC, which has already been accused of using data from a subterfuge voting registration drive to aid the Trump campaign. After Musk purchased Twitter, which he rebranded X, there was a surge of antisemitic and racist postings on the platform. Musk himself has also posted or retweeted hateful conspiracy theories, targeted Anthony Fauci, and made fun of people using gender pronouns. It is estimated that Musk is worth over $200 billion.

Chamath Palihapitiya, an early senior executive at Facebook, is a champion of digital currency and a competitive poker player. He co-hosted a San Francisco fund raiser for Trump with David Sacks that raised $12 million and promotes Trump on his podcast. Palihapitiya’s net worth is estimated at $1.2 billion.

Geoffrey Palmer is a Los Angeles-based real estate developer and competitive polo player worth $3.1 billion. His company contributed $5 million to Trump’s 2016 campaign, and he has hosted fundraisers for each of Trump’s campaigns. This round he gave $2 million to Trump's MAGA Inc. super PAC and $814,600 to the Trump 47 Committee. He was also a major financer of efforts to recall California Governor Gavin Newsom.

John Paulson, net worth $3.5 billion, made his money from the 2008 housing market collapse. He was an early supporter of Trump in 2016, has already raised $50 million for the Trump 2024 campaign, and is another potential Treasury Secretary.

Hedge fund broker Nelson Peltz stated that he regretted voting for Trump after the Capitol attack, but he is now hosting Trump fund raisers at his Palm Beach, Florida mansion, although he says he is not happy about it. Peltz is worth $1.6 billion.

Isaac Perlmutter is an Israeli American billionaire who has had stakes in several companies including Revco drug stores, Remington gun manufacturers, and Marvel Entertainment. He is a friend and unofficial advisor to Trump who helped oversee the Department of Veterans Affairs when Trump was President. Isaac and his wife Laura Perlmutter gave Trump almost $2 million in 2016, and Laura was part of Trump’s inauguration planning committee. In 2024, the Perlmutters have already contributed $10 million to Trump’s Right for America Super PAC. Isaac and Laura Perlmutter live near Mar-a-Lago in Florida and are worth over $4 billion.

Vivek Ramaswamy originally ran against Trump in Republican primaries but then endorsed him and was awarded with a spot at the Republican National Convention. Ramaswamy opposes affirmative action, abortion rights, and birthright citizenship. During his campaign he called the “climate change agenda a hoax” and for raising the voting age to 25. He has endorsed conspiracy theories that the January 6 attack on the U.S. Capitol was a “inside job” and questioning the official story about the September 11th attack on the World Trade Center. He made his money in pharmaceuticals and is worth about a billion dollars.

Todd Ricketts is a co-owner of the Chicago Cubs, a TD Ameritrade board member, and a former Republican Party finance chair. Since 2016 he has been a Trump fundraiser and was chair of the Trump Victory Committee in 2020. The Ricketts family is worth over $4 billion.

Phil Ruffin, a casino magnate, is a longtime associate and business partner of Trump who was with Trump at the 2013 Miss Universe Pageant in Moscow. Ruffin, worth $2.6 billion, contributed $2 million to Trump’s MAGA Inc. Super PAC and more than $800,000 to Trump 47.

Tech investor, podcast host, and venture capitalist David Sacks spoke opening night of the Republican National Convention. on Monday, co-hosted a fundraiser for Trump in San Francisco. Sacks, a former chief operating officer at PayPal, is now a big promoter of crypto currency along with JD Vance. Sacks supported Hillary Clinton in 2016, recently toyed with support for Robert Kennedy, but is now a prominent Trump fund raiser.

Blackstone CEO Steve Schwarzman, a longtime friend of Trump, was chairman of his Strategic Policy Forum when Trump was President. In that role he marshalled billionaires to support Trump tax cuts and economic policies. Schwarzman denounced the January 6 attack on the Capitol Building as an “insurrection” and an “affront to the democratic values we hold dear” and in 2022 he announced he would not support Trump for reelection however Schwarzman is now a Trump supporter and fundraiser again. He is worth $39 billion.

Paul Singer is a hedge fund manager with a net worth of over $6.1 billion. His specialty is buying the debt of poor countries and then forcing them to pay. Singer and the workforce at his company, Elliott Management are a top source of contributions to the National Republican Committee. Singer has contributed to the political efforts of the Koch brothers and gave one million dollars to the Trump 2017 inaugural committee. He originally supported Nicki Haley’s 2024 campaign but has now endorsed Trump.

Jeff Sprecher and his wife, former Georgia Senator Kelly Loeffler are worth over $1 billion. Each contributed over $800,000 to a Trump Super PAC. Sprecher is the former chairman of the New York Stock Exchange. (SUCCESSFULLY DEFEATED IN GEORGIA!)

So far Peter Thiel, co-founder of PayPal and Palantir, has not endorsed Trump again. He contributed a million dollars to the trump 2016 campaign but did not give money in 2020. Thiel, who is gay and part of a same-sex marriage, remains unhappy with Trump and the Republican Party’s focus on hot-button cultural issues. However, he was a major supporter of JD Vance’s Senate campaign and is expected to eventually support the Trump-Vance ticket because of his major investment in crypto currencies. Thiel, the person who introduced Trump to Vance, is worth $4.2 billion.

Richard Uihlein and Elizabeth Uihlein are founders of Uline and Richard is also an heir to Schlitz. They are anti-union, anti-tax, anti-regulation, and anti-gay and transgender rights. Their $10 million contribution to the Trump 2024 Make America Great Again Super PAC is currently the second largest Trump gift. The Uihleins are worth over $6 billion.

Kelcy Warren, the chairman and former CEO of a pipeline company with a net worth of over $6 billion gave over $800,000 to the Trump 47 Committee and $5 million to the MAGA Inc. super PAC.

Cameron and Tyler Winklevoss each gave over $1 million to the Trump 47 Committee and $250,000 to the America PAC. The twins run the cryptocurrency exchange Gemini and are each worth $2.7 billion. When endorsing trump, Tyler Winklevoss called him “pro-Bitcoin, pro-crypto, and pro-business.”

Steve Wynn was vice-chairman of Trump’s 2017 inaugural committee. He is casino and real estate magnate worth $3.4 billion who is accused of sexual misconduct and acting as a foreign agent for China. Wynn gave over $800,000 to the Trump 47 Committee.

Jeffrey Yass is the co-founder trading and technology company Susquehanna International Group, a major investor in TikTok which is under attack because its parent company is owned by China, and Trump’s sham media company. He has a net worth of $27.6 billion. He is a self-proclaimed libertarian, on the executive advisory council of the Cato Institute, and an advocate for charter schools and vouchers. Yass is one of the largest Republican Party deep pockets and contributed to several candidates challenging the results of the 2020 Presidential election.

COMMON DREAMS

THANKS JOHN DEATON FOR CALLING ATTENTION TO THIS SCAM! CRYPTO PROPAGANDA......

 

tRUMP'S SPEECH:

“America will become the world’s undisputed bitcoin mining powerhouse. You’ll be a bitcoin mining powerhouse. You will not have to move your family to China. We will not be moving to China. As we implement these reforms, Bitcoin and crypto will grow our economy, cement American financial dominance and strengthen our entire country, long into the future….”

Trump, as well as his speechwriter, are apparently unaware that in September of 2021, ten Chinese agencies, including the PBOC, the central bank of China, banned crypto mining and crypto transactions in that country, following a May 2021 ban on financial institutions engaging in crypto transactions.

Trump being unaware that China figured out ahead of the U.S. that crypto posed a national security and financial stability threat to the country added to the speciousness of his remarks. At one point, Trump compared the crypto venture capitalists at the conference to “modern-day Edisons and Wright brothers and Carnegies and Henry Fords,” ignoring the mounting evidence from thousands of scientists that both crypto and blockchain are a sham in terms of a useful technology and pose a grave threat to heating the planet from their mining operations.

In January 2022, Senator Elizabeth Warren and other Democrats in Congress investigated the inherent dangers between crypto, energy usage and the heating of the planet. A press statement summarized their concerns as follows:

“Bitcoin is the largest cryptocurrency by market cap, and the United States’ share of Bitcoin mining increased from 4% in August 2019 to 35% in July 2021. This share of mining is growing even more rapidly after China’s crackdown on crypto-mining, which left 500,000 mining operations looking for new locations. This could push North America to represent over 40% of the total global computing power dedicated to mining Bitcoin. As more cryptomining operations proliferate in the United States, the extraordinary energy use raises alarms about massive carbon emissions and the impacts of this energy consumption on consumer energy prices. A recent study estimated that cryptomining in upstate New York raised annual electric bills by about $165 million for small businesses and $79 million for consumers.”

According to a report published by the United Nations University and Earth’s Future journal, “during the 2020–2021 period, the global Bitcoin mining network consumed 173.42 Terawatt hours of electricity. This means that if Bitcoin were a country, its energy consumption would have ranked 27th in the world, ahead of a country like Pakistan, with a population of over 230 million people. The resulting carbon footprint was equivalent to that of burning 84 billion pounds of coal or operating 190 natural gas-fired power plants. To offset this footprint, 3.9 billion trees should be planted, covering an area almost equal to the area of the Netherlands, Switzerland, or Denmark or 7% of the Amazon rainforest.”

The report also found this:

“The UN scientists report that Bitcoin mining heavily relies on fossil energy sources, with coal accounting for 45% of Bitcoin’s energy supply mix, followed by natural gas (21%). Hydropower, a renewable energy source with significant water and environmental impacts, is the most important renewable source of energy of the Bitcoin mining network, satisfying 16% of its electricity demand. Nuclear energy has a considerable share of 9% in Bitcoin’s energy supply mix, whereas renewables such as solar and wind only provide 2% and 5% of the total electricity used by Bitcoin.”

Bitcoin mining involves massive banks of computers being used to solve complex math problems which have no practical use to society. The incentive to build these crypto “mines” and solve the math problems is simply to get rewarded with the payment of Bitcoins. Any rational person would have to seriously question if the fossil fuels industry is behind this insane business model.

In July 2019, NYU Professor and economist Nouriel Roubini summed up his findings on crypto like this:

“Crypto currencies are not even currencies. They’re a joke…The price of Bitcoin has fallen in a week by how much – 30 percent. It goes up 20 percent one day, collapses the next. It is not a means of payment, nobody, not even this blockchain conference, accepts Bitcoin for paying for conference fees cause you can do only five transactions per second with Bitcoin. With the Visa system you can do 25,000 transactions per second…Crypto’s nonsense. It’s a failure. Nobody’s using it for any transactions. It’s trading one sh*tcoin for another sh*tcoin. That’s the entire trading or currency in the space where’s there’s price manipulation, spoofing, wash trading, pump and dumping, frontrunning. It’s just a big criminal scam and nothing else.”

Trump's Brain SHUTS DOWN during BRUTAL Fox Interview - CHINA BANNED CRYPTO!

 

Trump, as well as his speechwriter, are apparently unaware that in September of 2021, ten Chinese agencies, including the PBOC, the central bank of China, banned crypto mining and crypto transactions in that country, following a May 2021 ban on financial institutions engaging in crypto transactions.

Trump being unaware that China figured out ahead of the U.S. that crypto posed a national security and financial stability threat to the country added to the speciousness of his remarks. At one point, Trump compared the crypto venture capitalists at the conference to “modern-day Edisons and Wright brothers and Carnegies and Henry Fords,” ignoring the mounting evidence from thousands of scientists that both crypto and blockchain are a sham in terms of a useful technology and pose a grave threat to heating the planet from their mining operations.

THIS IS CALLED STUPID BY ANY NAME....

Prisoner exchange? The Orange Turd doesn't even know the complex details!

NO MONEY WAS INCLUDED IN THE EXCHANGE!

Adam Mockler

333K subscribers

Adam Mockler with MeidasTouch breaks down Donald Trump's most recent interview with Fox News's Maria Bartiromo. Adam Mockler Socials: Subreddit:   / adammockler   Discord:   / discord   Instagram:   / adammockler   Twitter: https://x.com/adammocklerr TikTok:   / adammockler   Support me here:   / adammockler     / adammockler   Adam Mockler - amock LLC

JOHN DEATON IS A CRYPTO CLOWN AMONG OTHER THINGS!

 

"R" VOTERS DON'T LIKE TO THINK OR RESEARCH, BUT MASSACHUSETTS DESERVES BETTER THAN CARPETBAGGER JOHN DEATON who voted 3 TIMES IN 20 YEARS!  

As a reminder, MASSACHUSETTS VOTERS defeated a CARPETBAGGER before & replaced him with a WOMAN! The KOCH SOCK PUPPET CARPETBAGGER went on to NEW HAMPSHIRE and was defeated by a SECOND WOMAN! 

Was that the FIRST TIME in history a WHITE MALE CANDIDATE was DEFEATED TWICE by WOMEN? 

As a reminder, local "R" VOTERS were moped around in mourning to which I would ask: 

Did you know he voted for XYZ? The reply was invariably NO! 

I would ask: 

Did you know he voted against ABC? The reply was invariably NO!

INFORM YOURSELVES!


The Orange Turd attended a CRYPTO conference, 2024 Bitcoin Conference in Nashville, Tennessee. and promoted CRYPTO to combat the CHINESE....

except he was TOO STUPID to know that CHINA BANNED CRYPTO ...

Trump, as well as his speechwriter, are apparently unaware that in September of 2021, ten Chinese agencies, including the PBOC, the central bank of China, banned crypto mining and crypto transactions in that country, following a May 2021 ban on financial institutions engaging in crypto transactions.

WARREN BUFFETT called CRYPTO RAT POISON SQUARED!